GraniteShares HIPS US High Income ETF (NYSEARCA:HIPS) Stock Price Down 0.5% – Here’s What Happened

GraniteShares HIPS US High Income ETF (NYSEARCA:HIPS)’s stock price dropped 0.5% during trading on Monday . The stock traded as low as $11.60 and last traded at $11.63. Approximately 550,778 shares were traded during trading, an increase of 771% from the average daily volume of 63,240 shares. The stock had previously closed at $11.69.

GraniteShares HIPS US High Income ETF Stock Performance

The firm’s 50-day moving average price is $11.76 and its 200 day moving average price is $11.84. The company has a market cap of $101.18 million, a price-to-earnings ratio of 11.61 and a beta of 0.65.

Institutional Investors Weigh In On GraniteShares HIPS US High Income ETF

A number of institutional investors have recently made changes to their positions in HIPS. Kestra Advisory Services LLC bought a new stake in GraniteShares HIPS US High Income ETF in the fourth quarter valued at about $112,000. Gateway Wealth Partners LLC bought a new position in GraniteShares HIPS US High Income ETF during the first quarter worth about $126,000. Stratos Wealth Advisors LLC bought a new position in GraniteShares HIPS US High Income ETF during the third quarter worth about $127,000. Envestnet Asset Management Inc. bought a new position in GraniteShares HIPS US High Income ETF during the second quarter worth about $128,000. Finally, MGO One Seven LLC bought a new position in GraniteShares HIPS US High Income ETF during the fourth quarter worth about $143,000.

About GraniteShares HIPS US High Income ETF

The GraniteShares HIPS US High Income ETF (HIPS) is an exchange-traded fund that is based on the TFMS HIPS index. The fund tracks an index of assets that tend to produce high income and pass through that income without being taxed at the constituent level. These include REITs, MLPs, BDCs and debt-based closed-end funds. HIPS was launched on Jan 6, 2015 and is managed by GraniteShares.